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Author Topic: All classic sings for another drop soon.  (Read 4045 times)
Edward50
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November 04, 2011, 04:03:05 PM
 #1

All the classic sings that this mini rally is going to turn lower. Just like how it has done many times before. Price has been stagnant for a few days, volume is dropping, price is slowly creeping towards the resistance point.

Is this the rinse and repeat that the market manipulators are using to cash out money from many of you fools on here? Push the price up higher, sell a bunch at that higher price, let the price drop lower.

Is it a manipulator who is trying to protect his huge 100,000K Plus coin bitcoin investment and can't muscle propping up the whole market by his bid walls.

I do not know, but one thing looks almost certain, a reversal that will drop below $3.00, and start heading to the $2.00 resistance point.




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worldinacoin
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November 04, 2011, 04:05:53 PM
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What makes it so certain for you?
ArsenShnurkov
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November 04, 2011, 04:06:58 PM
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and start heading to the $2.00 resistance point.

Is it awful ?
We already were at $2.04
trogdorjw73
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November 04, 2011, 04:07:46 PM
 #4

I'd say the drop is now starting, and if you're hoping to sell high and buy low, now is the time to sell. We've dropped about 12 cents in the past six hours, but more importantly volume is now starting to increase. The bid wall at $3.10 is gone, and the $3.05 wall is pretty insignificant. There's a $3.00 wall of around 10K BTC, but I'm betting that's about to get yanked out by the trade bots as they detect the current trend and set their buy-in price quite a bit lower.

nmat
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November 04, 2011, 04:46:30 PM
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I do agree that things are not looking good for bulls... But we'll see.
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November 04, 2011, 05:47:04 PM
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so sorry.  $95K bid wall at $3 doesn't reflect weakness to me.
Dan The Man
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November 04, 2011, 05:51:35 PM
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Classic signs for a long 2 week steady decline to $3 with a few jumps and drops on the way. I made a few bucks at the rebound of this drop, and I plan to make a few more on the way. If you haven't notice the big plummets only come once a month and in between we have a lot of boring downward movement.

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November 04, 2011, 05:59:28 PM
 #8

All the classic sings that this mini rally is going to turn lower. Just like how it has done many times before. Price has been stagnant for a few days, volume is dropping, price is slowly creeping towards the resistance point.

Is this the rinse and repeat that the market manipulators are using to cash out money from many of you fools on here? Push the price up higher, sell a bunch at that higher price, let the price drop lower.

Is it a manipulator who is trying to protect his huge 100,000K Plus coin bitcoin investment and can't muscle propping up the whole market by his bid walls.

I do not know, but one thing looks almost certain, a reversal that will drop below $3.00, and start heading to the $2.00 resistance point.


I am not in a bullish mood right now - but when I read a post like this I can feel the authors anxiety behind these 'almost certain things'.
ElectricMucus
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November 04, 2011, 06:09:42 PM
 #9

Steady....
http://www.youtube.com/watch?v=TyBKz1wdK0M

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
cypherdoc
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November 04, 2011, 06:14:14 PM
 #10

All the classic sings that this mini rally is going to turn lower. Just like how it has done many times before. Price has been stagnant for a few days, volume is dropping, price is slowly creeping towards the resistance point.

Is this the rinse and repeat that the market manipulators are using to cash out money from many of you fools on here? Push the price up higher, sell a bunch at that higher price, let the price drop lower.

Is it a manipulator who is trying to protect his huge 100,000K Plus coin bitcoin investment and can't muscle propping up the whole market by his bid walls.

I do not know, but one thing looks almost certain, a reversal that will drop below $3.00, and start heading to the $2.00 resistance point.


I am not in a bullish mood right now - but when I read a post like this I can feel the authors anxiety behind these 'almost certain things'.

Edward desperately wants to scoop up coins at sub $1 prices so he can be an early adopter and then turn around and be an incessant cheerleader for a price rise.  sorry, ain't gonna happen.
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November 04, 2011, 06:29:40 PM
 #11

Early adopter prices are around 0.06 USD dude.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
nmat
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November 04, 2011, 08:50:00 PM
 #12

I do agree that things are not looking good for bulls... But we'll see.

And... We are back to normal. It was just another regular day with a small spike.
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November 04, 2011, 09:20:53 PM
 #13

But the weekend is coming!

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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worldinacoin
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November 04, 2011, 11:27:56 PM
 #14

Who knows the price may spike during a weekend when the volumes are low, easy for manipulators.
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November 04, 2011, 11:49:29 PM
 #15

Who knows the price may spike during a weekend when the volumes are low, easy for manipulators.

I think that buyers who have not planned ahead or get to anxious run out of money and that force tends to depress the prices into the weekends.  But not always.  I think it happened to some extent last weekend, and we saw evidence in that the exchange arbitrage fell apart, but it did not have the effect I had hoped for on spot price.  I'm hoping this will be a good weekend (for a down-leg) and if so, that I can end up playing it right.


Dan The Man
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November 04, 2011, 11:53:27 PM
 #16

This is a good weekend to go outside and do something other than watch the price of Bitcoins stay the same. I am predicting that we will come out on Monday somewhere between 3.00 and 3.20

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November 05, 2011, 12:46:38 AM
 #17

Early adopter prices are around 0.06 USD dude.

In 10 years time people will say that early adopters got in at around $3 when the market first began to stabilise Smiley

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ElectricMucus
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November 05, 2011, 12:51:53 AM
 #18

Early adopter prices are around 0.06 USD dude.

In 10 years time people will say that early adopters got in at around $3 when the market first began to stabilise Smiley
The same as 5 & 14, people said exactly the same thing, search for it.

I mean the price could be relatively stable for a while but fundamentals suck, this board sucks, everybody hates each other and so on. There is no reason for it to go up except pump & dump atm. I don't think bitcoin is in that bad shape, but certain people have to leave...

It has become impossible in the last month do engage in any reasonable discussion, the emotional state of the crowd is the leading indicator for the price and this has to reflect itself. So yes I think the coming drop could be the last one since it almost couldn't get much worse here.
(But we never know....  Angry )

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
adamstgBit
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November 05, 2011, 01:02:07 AM
 #19

I see the price going higher, because that's what i want to see Smiley

See this chart:

http://bitcoincharts.com/charts/chart.png?width=1286&m=mtgoxUSD&k=&r=20&i=&c=0&s=&e=&Prev=&Next=&v=1&cv=0&ps=0&l=0&p=0&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&SubmitButton=Draw&

Vandroiy
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November 05, 2011, 01:08:02 AM
 #20

It has become impossible in the last month do engage in any reasonable discussion, the emotional state of the crowd is the leading indicator for the price and this has to reflect itself. So yes I think the coming drop could be the last one since it almost couldn't get much worse here.
(But we never know....  Angry )

You have not been here in June. Things have become SO much better since then! The board is unlikely to reach pre-June quality ever again, it's not a pure nerd community any more and that's okay.

But seriously, your argument is almost a thing of the past now. Back then, it was so very true! Insane maniac speculators EVERYWHERE, search the forum, you won't believe what you can find there, behind that "Why I put all my money and all money I can borrow into Bitcoin".

By now, things have largely calmed down. Don't forget that by fundamentals, a surviving Bitcoin currency would be valued much higher than it currently is, so we can treat some of the risk as already factored into price. It's possible, but not necessary that we get another drop. Even if we do: anyone surviving the >90% super-crash will probably not run from one more dip.
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